Consolidation of Rang-ay Rural Bank (La Union), Inc. and Rural Bank of Burgos (Ilocos Sur), Inc. into Rang-ay Bank (A Rural Bank)

June 15, 2006 BSP CIRCULAR LETTER NO. CL-2006-010 TO : All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions SUBJECT : Consolidation of Rang-ay Rural Bank (La Union), Inc. and Rural Bank of Burgos (Ilocos Sur), Inc. into Rang-ay Bank (A Rural Bank) The Monetary Board, in its Resolution No. 1142 dated 26 August 2005, approved the consolidation of the Rang-ay Rural Bank (La Union), Inc. and the Rural Bank of Burgos (Ilocos Sur), Inc. to be known as Rang-ay Bank (A Rural Bank), Inc. The certificate of filing of the articles and plan of consolidation was registered/approved by the Securities and Exchange Commission on 19 December 2005 while the certificate of authority to operate as a consolidated bank was signed/issued by the Governor on 10 January 2006. For information and guidance. (SGD.) NESTOR A. ESPENILLA, JR. Deputy Governor